Wing Debit Card

We have several factors that make a Wing Debit Card an attractive option.

  1. Ontology ID. Perfect for verification of customers and could be a requirement to get a card.

  2. WING Token. Could be locked up to get cash back on purchases, which would be paid in WING. Adding a further use case and reducing some circulating supply.

  3. WUSD Token. Could be used as the sole token to top-up the card. Adding a clear demand for the token.

  4. Utility. Using Singapore as an example, there are 2 main competitors. One fails horribly on authentication (see point 1 for our solution) and the other fails on top-ups. There is a growing demand and the early movers are not winning over customers.

This seems like a good fit for WING and Ontology together.

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I 100 percent agree on a debit card , will tremendously attract new investers.

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Are you a Card Issuer or do you have any related resources?

No at all. However, people like SWIPE offer card-as-a-service. As an example, they charge $25k or 300,000 SXP stake to issue a card. There’s potential for some link up there.

That’s just one option that could be explored by the team.

i don’t think a card aligns well with WINGS motives as a project, would just be a waste of resources due to the amount of regulatory work revolving card issuance.

Whilst I agree that it would involve a reasonable amount of work, and that it sits outside of the obvious plan, I don’t think it would turn out to be a waste.

The extra use case for the wing token and the extra locked up tokens could have a very positive impact. Added to that the extra exposure to new customers.

But, I do agree. There is a consideration around the cost/gain of such a move. But if you look at the broader Ontology ecosystem, then Wing are well placed to take move into the market.

Interesting idea. Debit card option should be well researched!

I think this is meaningless. Few people would use it after issuance since USDT is generally used for deposits and withdrawals.

I know plenty of people who use crypto cards for cashback rewards. That cashback is paid in WING, after which you direct to the site to encourage supply/borrowing.

Wirex, for example, allow top-ups in fiat and dai. Wing could allow top-ups in WUSD when it launches, which then drives demand and usage.

So, I have to disagree with the idea that it wouldn’t be used.

I think a payment option in onto wallet would be more fitting, rather then physical cards. Like Apple Pay etc, I would certainly use it!

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That would be a solution I’d be happy with

I agree with you, most people use USDT and other stablecoins to buy everything. A WING backed debit card would cause a lot issues since it’s not stable. But an oneWING backed debit card would be an option.

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